Mon Courtier Energie Groupe S.A.

Earnings Release • Oct 18, 2023

Press release

Mon Courtier Energie Groupe announces its first-half 2023 results

• First-half 2023 revenue up 23% at €10.4m
• Acceleration of sales momentum, in line with the roadmap presented at the time of the IPO:
  • Opening of 3 new branches in France
  • Acquisition of 4,000 new customers
  • Deployment of the "Energy Transition" activity
  • Structuring the team in Spain
• Historically profitable business, with operating income of €0.9m in H1 2023
• Successful IPO on Euronext Growth® in Paris
• Cash position of €7.9m at June 30, 2023

Bordeaux, October 18, 2023 at 7h00 CEST – Mon Courtier Energie Groupe (ISIN code: FR001400H3A0 - Ticker: ALMCE), a B2B energy brokerage company, today announces its results for the first half of 2023, ended June 30, 2023, as approved by the Board of Directors on October 17, 2023¹ .

Charlie Evrard, Founder and Chief Executive Officer of Mon Courtier Energie Groupe, comments: "In the first half of the year, Mon Courtier Energie Groupe accelerated its national rollout with the opening of three new branches, and also achieved its first international sales with the signing of its first contracts in Spain. Our customer base gained 4,000 new accounts, and for the first time in our history, we exceeded €10 million in halfyear revenue. This +23% growth is even more remarkable given that the first half of 2022 was already particularly dynamic considering the energy market context at the time. This performance attests to the strength of our fundamentals in B2B brokerage. We have also reinforced our foundations to pursue our profitable growth trajectory by continuing to invest in our branch network and our teams. In order to offer our customers the most agile energy supply solution, the Company's stock market listing has provided us with substantial financial resources, enabling us to operate aggressively in a market we master. The €7m fundraising gives us the capacity to invest in our development in France and abroad, and in the deployment of our energy transition solutions. Building on these strengths, we can confirm our financial targets for 2025."

¹ The statutory auditor's limited review of the interim financial statements has been completed.

Simplified income statement

In € thousands	H1 2023	H1 2022	% Δ
Revenue	10,444	8,494	+23%
Other operating income	161	81
Purchases	(7,667)	(6,037)
Personnel expenses	(1,661)	(1,037)
Other operating expenses	(8)	(0)
Taxes	(43)	(27)
Net changes in depreciation, amortization and impairment	(311)	(78)
Total operating expenses	(9,690)	(7,180)
Operating profit	914	1,395	-34%
Financial income	15	(5)
Recurring income of consolidated companies	930	1,390	-33%
Extraordinary income	(18)	(0)
Income tax	(290)	(357)
Minority interests	12	-
Net profit (Group share)	634	1,033	-39%

Revenue for the first half of 2023 were up 23% to reach €10.4m, including:

• 3% from the Energy Transition business;
• 1% from international activities, with the first sales in Spain.

The historic brokerage business accounted for 92% of revenue in the first half of 2023, compared with 92.5% in the same period of 2022.

Operating expenses for the first half of 2023 rose by 35% to €9.7m, reflecting significant investment in developing the sales network, and break down mainly as follows:

• €7.7m of purchases consumed, corresponding notably to commissions paid to licensed branches, the driving force behind the Group's commercial development, and representing 73% of revenue in the first half of 2023, compared with 71% in the first half of 2022. The 27% increase is essentially due to the growth in revenue generated over the period.
• €1.7m of personnel expenses, up 60%, reflecting the recruitment carried out to expand the branch network, accelerate the development of the Energy Transition business and structure the teams in Spain in line with the development plan announced at the time of the IPO.

As a result, operating profit for the first half of 2023 was €0.9m, down 34% on the first half of 2022.

After considering financial income (€15k), exceptional income (€18k) and tax (€290k), net profit (Group share) for the first half of 2023 was €0.6m, compared with €1.0m for the first half of 2022.

At June 30, 2023, the number of Group and branch network employees had risen sharply (+25%) to 150, compared with 120 at June 30, 2022.

Cash position at June 30, 2023

In May 2023, the Company raised €7m as part of its initial public offering. Following the partial exercise of the over-allotment option, the total amount of the Offer was increased to €7.3m.

At June 30, 2023, the Group's cash position stood at €7.9m.

H1 2023 highlights

Strengthening of the national network and acquisition of new customers

The first half was marked by the acquisition of 4,000 new customers and the opening of 3 new branches in France at the end of the period (Chambéry, Grenoble and Sarlat), bringing the total number of branches to 26 by June 30, 2023.

At June 30, 2023, Mon Courtier Energie Groupe reached 28,000 business clients.

International expansion

The Group has continued to strengthen its presence in Spain, adding new brokers and signing its first contracts.

Mon Courtier Energie Groupe intends to replicate its licensed branches model in Spain, before exporting its business model to Italy and Germany, two markets where the Group has in-depth knowledge of the energy sector. By covering the 4 largest economies in the European Union, the Group aims to become a European champion in B2B energy brokerage.

An active human resources policy

A major recruitment campaign was launched during the first half of the year, both to strengthen the teams in the branches and to support the Energy Transition business, which is in the pilot phase for the launch of new offerings from the second half of 2023.

During the first half of the year, Mon Courtier Energie Groupe was certified Great Place to Work 2023 and ranked 28th in the "Companies with 50 to 250 employees" category.

2025 targets confirmed

• Revenue of more than €40m
  • of which more than 10% from energy transition consulting services
  • of which more than 15% generated abroad
• Operating income of approximately €5m
• A network of more than 40 branches

Availability of the 2023 interim financial report

The interim financial statements were approved by the Board of Directors and reviewed on October 17, 2023. The 2023 interim financial report will be available by October 31, 2023 on the Investor Relations website, in the Financial Reports section.

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About Mon Courtier Energie Groupe

Founded in Bordeaux in 2017, in just a few years Mon Courtier Energie Groupe has become the leading French energy broker on the B2B market. The Group's mission is to help companies with the global management of their energy budget in order to reduce or optimise their gas and/or electricity bill. Mon Courtier Energie Groupe's service offer comprises brokerage and advice regarding energy purchasing, the management and optimisation of contracts and energy transition guidance.

Mon Courtier Energie Groupe draws on the expertise of circa 150 people at its head offices and in "licenced" branches around the country.

NewCap

Nicolas Merigeau Media Relations mce@newcap.eu Tel: +33 (0)1 44 71 94 98

For further information, please go to www.moncourtierenergie.com.

Contacts

Mon Courtier Energie Groupe	NewCap
Charlie Evrard	Mathilde Bohin / Dusan Oresansky
Founder and CEO	Investor Relations
investisseurs@moncourtierenergie.com	mce@newcap.eu
	Tel: +33 (0)1 44 71 94 94

Disclaimer on forward-looking statements and risk factors

This press release contains forward-looking statements, not historical data, and should not be construed as a guarantee that the facts and data stated will occur. These forward-looking statements are based on data, assumptions and estimates considered reasonable by Mon Courtier Energie Groupe. Mon Courtier Energie Groupe operates in a competitive and rapidly evolving environment. It is therefore not in a position to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the materialization of a risk or combination of risks could lead to results that differ significantly from those mentioned in any forwardlooking statement. Mon Courtier Energie Groupe draws your attention to the fact that forward-looking statements are in no way a guarantee of its future performance and that its actual financial position, results and cash flows and the development of the sector in which Mon Courtier Energie Groupe operates may differ significantly from those proposed or suggested by the forward-looking statements contained in this document. In addition, even if Mon Courtier Energie Groupe' financial position, results, cash flows and developments in the industry in which it operates are consistent with the forwardlooking information contained in this document, such results or developments may not be a reliable indication of Mon Courtier Energie Groupe' future results or developments. Readers are advised to carefully consider the risk factors described in the Registration document approved by the French Market Authority ("AMF"), available free of charge on the Company's website. Should all or any part of these risk factors materialize or others, in no case whatsoever will Mon Courtier Energie Groupe be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. This information is given only as of the date of this press release. Mon Courtier Energie Groupe makes no commitment to publish updates to this information or on the assumptions on which it is based, except in accordance with any legal or regulatory obligation applicable to it.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Mon Courtier Energie Groupe in any country.